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Found 3 results

  1. Hi I have set up a company/svp in order to start to build up a property portfolio. I was looking to do interest only (as landlords with a company will be able to continue to declare rental income after deducting the mortgage interest only payments) and make over-payments annually upto 10% so that i can pay the properties off. If i do the overpayments will that have any impact on the tax deductable nature of the calculation please ? or will these count like repayment mortgages and not be tax deductible. Any information here would be very useful. Thanks
  2. I own two buy to let properties plus my residential home. All have mortgages secured on them. I withdrew equity from one of the BTLs (Property 1) before the stricter rental cover tests came into force in 2017. I have been able to refinance since then but choice of lenders has been greatly reduced as many won't touch it due to the large size of the loan against the monthly rent. Property 1 has a value of £375k, outstanding mortgage £246k (LTV 66%), and monthly rent £1075. It is my former home and has seen good capital growth as it is in a prime residential area, but clearly it does not yie
  3. I am transferring my existing property to limited company (capitalised at £1) at market price and obtained a mortgage for it. Mortgage states that my equity will be used as deposits for the purchase but solicitor insist that I should have corresponding deposit money which needs to be transferred to solicitors account and once complete this money will be transferred back to my account, otherwise the transaction cannot go ahead. Is my solicitor correct? Also Lender is asking for a gift deed to transfer my equity?
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